Real Estate in a Pandemic and Beyond: Fraud Prevention Checklist

RE-in-a-Pandemic-Fraud-Prevention-Checklist-COVER-skew.jpgAs a result of the pandemic, real estate executives have been dealing with many issues at once: the safety of their employees, managing the business remotely, the ability of their tenants to pay rent, cost reductions, and possibly lender negotiations. But there is another equally important concern that is often not on management’s radar: fraud.

According to the 2020 Association of Certified Fraud Examiners (ACFE) Report to the Nations, real estate has the third highest median fraud loss of any industry. Most real estate is held by private companies that have not invested in the internal controls necessary to prevent, or even recognize, fraud. However, the onset of the pandemic has made real estate companies particularly vulnerable to fraud, which heightens financial and reputational risk.

EisnerAmper’s Real Estate and Forensics groups developed a fraud prevention checklist specifically for the real estate industry based on the 2020 ACFE Report to the Nations. Download this sample list of questions you should consider when evaluating your company’s policies, controls, training programs, reporting, and technologies to protect against fraud.